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Build a Condominium Cost

Build a Condominium Cost

National average
(per unit)
Low: $102,000

(per unit)

High: $240,000

(per unit)

Cost to build a condominium varies greatly by region (and even by zip code).
Get free estimates from builders in your city.

The average cost of building a condominium is $102,000 per unit.

How Much Does It Cost to Build a Condominium?

What does it cost to build a single, high-end condominium? There are a huge number of variables in such a question. For one thing, condos come as older buildings which have been rehabilitated, as two-story homes, and in buildings holding only one or two units each. For the purpose of this discussion we will look at a standard condominium containing two single-family dwellings of two stories each. This is the style frequently identified as a Townhouse as well. According to real estate statistics, the size of the average condo as described above is 1200 square feet which assumes a "footprint" of approximately 20'x30' per unit. The building of single condominium complex would never be a "DIY" project and usually requires a knowledgeable contractor, an architect, a team of subcontractors, and cooperative owner to get the job done in a calendar year.

For the building of a condominium complex of two units, the typical costs include:

  • With "lux"-range materials, a normal foundation with full basement, efficient doors and windows, all appliances, and "turnkey" finishing would run at an average of $102,000 to $240,000 per unit to complete. This does not include acquisition of the land, however.
  • The above figures place this construction at an $85 and $200 per square foot cost, though national average stands at $125 for most contractors. This pricing structure assumes that carpenters, masons and excavators charge an average of $70 per hour, electricians between $65 to $85 per hour, painters between $20 and $35 per hour and plumbers between $45 and $65 per hour.
  • This sort of building, however, would not come in at a simple cost of $85 per square foot due simply to the excessive amount of construction required on the interior. A two-story unit of wooden construction with two condominiums would run roughly $484,500 in total costs. This excludes land acquisition and site improvements like parking, gardens and play areas. Materials would cost around $238,000, labor would cost roughly $238,200, machine costs would stand at roughly $8,300 and the contractor would take in over $67,000 for the project.

Cost Breakdown

What is included:

  • The basic structure of this building would be best if left in an uncomplicated "four square" design. Most owners rely on both an architect and a contractor, and the architect will require approximately 10 - 17% of the total building budget;
    • An architect will:
      • Determine the scope of the project and establish a preliminary budget;
      • Draft list of proposed work, budget, and outline of plans;
      • Create the schematic design and draft floor plans with elevation drawings. Then work with any structural engineers and meet with planning agencies to verify any requirements;
      • Finalize drawings and incorporate all details about materials and finishes, any fixtures or equipment, and all systems in the structure;
      • Serve as the overall manager and review the plans with any required local agencies while also obtaining necessary permits;
      • Serve in an advisory capacity to select contractor and help the client through the bid review process as well;
      • Complete construction documents;
      • Administer the construction, ensure that contractor's requests for payments are accurate and that all "final" details are corrected or finished by the contractor; and
      • Based on figures given the architect on this project would receive from $48,500 to $82,400 for their services.
    • A contractor will:
      • Provide the services and materials required for the entire job;
      • Hire subcontractors according to need;
      • Suggest plans and ideas to owner to help them meet goals;
      • Deliver final cleanup of entire home;
      • Pull all permits for work and utility installation; and
      • For doing all of the day to day management of the project the average contractor earns around $85 per square foot. They might also "mark up" supplies and services as well. For example, on the average home construction described here the average contractor would account for roughly $66,600 in markup and indirect fees.
    • A general bungalow construction project will cover:
      • Bath fixtures
      • Built In Appliances
      • Cabinets
      • Carpeting
      • Countertops
      • Doors
      • Excavation
      • Exterior Finish
      • Exterior Trim
      • Final Cleanup
      • Finish Carpentry
      • Finish Hardware
      • Flooring
      • Foundation, Piers, Flatwork
      • Heating and Cooling Systems
      • Insulation
      • Insurance
      • Interior Wall Finish
      • Lighting Fixtures
      • Painting
      • Permits & Utilities
      • Plans & Specs
      • Plumbing Fixtures
      • Plumbing Rough-in and Connection
      • Roofing, Flashing 1, Fascia
      • Rough Carpentry
      • Rough Hardware
      • Unit Heating and Cooling
      • Windows
      • Wiring
      • and more
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Remodeling Terms Cheat Sheet

Definitions in laymen's terms, cost considerations, pictures and things you need to know.
See full cheat sheet.
glossary term picture Flashing 1 Flashing: Pieces of sheet metal used on roofs to cover joints, such as where the roof meets the wall, or around a chimney or skylight, to protect them and prevent water leaking through

Cost to build a condominium varies greatly by region (and even by zip code). To get free estimates from local contractors, please indicate yours.

Fourteen unit condominium

Labor cost by city and zip code

Compared to national average
Akron, OH
Arlington, TX
Athens, GA
Atlanta, GA
Austin, TX
Baton Rouge, LA
Beaumont, TX
Brooklyn, NY
Buffalo, NY
Charlotte, NC
Chicago, IL
Chico, CA
Cincinnati, OH
Columbus, OH
Dallas, TX
Dayton, OH
Denver, CO
El Paso, TX
Fayetteville, NC
Fort Worth, TX
Henrico, VA
Houston, TX
Indianapolis, IN
Jacksonville, FL
Jamaica, NY
Jersey City, NJ
Laredo, TX
Las Vegas, NV
Lexington, KY
Little Rock, AR
Los Angeles, CA
Louisville, KY
Mckinney, TX
Memphis, TN
Miami, FL
Minneapolis, MN
Nashville, TN
New Orleans, LA
New York, NY
Norfolk, VA
Oakland, CA
Orlando, FL
Pensacola, FL
Philadelphia, PA
Phoenix, AZ
Pittsburgh, PA
Reno, NV
Riverside, CA
Rochester, NY
Sacramento, CA
Labor cost in your zip code
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